Question for the Politics Board regulars

[Butterbean]

I'm not a a Politics "bug" so from time to time I have a question to which I'd appreciate a simplistic answer if possible...or at least dumb it down to state college graduate level please

Can someone give me a simple answer to the question of what Obama plans to spend the money on that the govt would receive from his proposed tax increase on the wealthy?

Thanks!

[Fury]

I'm not a a Politics "bug" so from time to time I have a question to which I'd appreciate a simplistic answer if possible...or at least dumb it down to state college graduate level please

Can someone give me a simple answer to the question of what Obama plans to spend the money on that the govt would receive from his proposed tax increase on the wealthy?

Thanks!

Cocaine and hand outs for black people.

[OzmO]

I'm not a a Politics "bug" so from time to time I have a question to which I'd appreciate a simplistic answer if possible...or at least dumb it down to state college graduate level please

Can someone give me a simple answer to the question of what Obama plans to spend the money on that the govt would receive from his proposed tax increase on the wealthy?

Thanks!

This years budget deficit is the largest in history.  Going by relative numbers calculating for inflation is not the "actual largest" which was in 1943 i think.   However it's still a BIG deal now. 

That's the news you are not hearing much about, but instead things about tire inflation and oil drilling. 

I don't think what Obama is saying will come to pass.  But something needs to be done and it's through raising taxes and reducing spending.   I thin Obama will raise taxes and raise spending.

[youandme]

I'm not a a Politics "bug" so from time to time I have a question to which I'd appreciate a simplistic answer if possible...or at least dumb it down to state college graduate level please

Can someone give me a simple answer to the question of what Obama plans to spend the money on that the govt would receive from his proposed tax increase on the wealthy?

Thanks!

Simple answer; increase social reforms.

Healthcare, increased welfare expenditure, he stated many times that he planned to initiate a broad spread overlay in the building of government assisted living in less diverse areas, decrease global poverty levels, urge states that are independent of federal money to initiate the Robin Hood act for schools.

[24KT]

I'm not a a Politics "bug" so from time to time I have a question to which I'd appreciate a simplistic answer if possible...or at least dumb it down to state college graduate level please

Can someone give me a simple answer to the question of what Obama plans to spend the money on that the govt would receive from his proposed tax increase on the wealthy?

Thanks!

Plan for Restoring Fiscal Discipline

“The cost of our debt is one of the fastest growing expenses in the federal budget.
This rising debt is a hidden domestic enemy, robbing our cities and states of critical investments in infrastructure like bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on. . . . If Washington were serious about honest tax relief in this country, we'd see an effort to reduce our national debt by returning to responsible fiscal policies.”

— Barack Obama, Speech in the U.S. Senate, March 13, 2006


At a Glance
Restore Fiscal Discipline to Washington
Make the Tax System More Fair and Efficient


The Problem
Increasing Debt: Under President Bush, the federal debt has increased from $5.7 trillion to $8.8 trillion, an increase of more than 50 percent.

Irresponsible Tax Cuts: President Bush's policies of giving tax breaks for the wealthy will cost the nation over $2.3 trillion by the time they expire in 2009.

Baracks Plan
Restore Fiscal Discipline to Washington

Reinstate PAYGO Rules: Obama believes that a critical step in restoring fiscal discipline is enforcing pay-as-you-go (PAYGO) budgeting rules which require new spending commitments or tax changes to be paid for by cuts to other programs or new revenue.

Reverse Bush Tax Cuts for the Wealthy: Obama will protect tax cuts for poor and middle class families, but he will reverse most of the Bush tax cuts for the wealthiest taxpayers.
 
Cut Pork Barrel Spending: Obama introduced and passed bipartisan legislation that would require more disclosure and transparency for special-interest earmarks. Obama believes that spending that cannot withstand public scrutiny cannot be justified. Obama will slash earmarks to no greater than year 2001 levels and ensure all spending decisions are open to the public.

Make Government Spending More Accountable and Efficient: Obama will ensure that federal contracts over $25,000 are competitively bid. Obama will also increase the efficiency of government programs through better use of technology, stronger management that demands accountability and by leveraging the government's high-volume purchasing power to get lower prices.
 
End Wasteful Government Spending: Obama will stop funding wasteful, obsolete federal government programs that make no financial sense. Obama has called for an end to subsidies for oil and gas companies that are enjoying record profits, as well as the elimination of subsidies to the private student loan industry which has repeatedly used unethical business practices. Obama will also tackle wasteful spending in the Medicare program.

Make the Tax System More Fair and Efficient

End Tax Haven Abuse: Building on his bipartisan work in the Senate, Obama will give the Treasury Department the tools it needs to stop the abuse of tax shelters and offshore tax havens and help close the $350 billion tax gap between taxes owed and taxes paid.

Close Special Interest Corporate Loopholes: Obama will level the playing field for all businesses by eliminating special-interest loopholes and deductions, such as those for the oil and gas industry.

Barack Obama's Record

PAYGO: Obama voted in 2005, 2006, and 2007 to reinstate pay-as-you-go (PAYGO) federal budget rules.
No-Bid Contracts: Obama has introduced and helped pass bipartisan legislation to limit the abuse of no-bid federal contracts.

Against Raising the Federal Debt Limit: In 2006, Obama voted against misguided Republican efforts to raise the statutory debt limit at the same time the Republicans were pushing through massive debt-financed tax cuts for the wealthy.


Obama's Fiscal Policy Plan: http://www.barackobama.com/issues/fiscal/ObamaPolicy_Fiscal.pdf


The tax increases people speak about are on those who currently enjoy corporate welfare like Big Oil

[Dos Equis]

Simple answer; increase social reforms.

Healthcare, increased welfare expenditure, he stated many times that he planned to initiate a broad spread overlay in the building of government assisted living in less diverse areas, decrease global poverty levels, urge states that are independent of federal money to initiate the Robin Hood act for schools.

That about sums it up.  He wants to "roll back" the "Bush tax cuts" and use that supposed "savings" for his healthcare, etc. initiatives. 

He is bad news. 

[24KT]

That about sums it up.  He wants to "roll back" the "Bush tax cuts" and use that supposed "savings" for his healthcare, etc. initiatives. 

He is bad news. 

He wants to roll back Bush' tax cuts for the wealthy, and reinvest that in rebuilding America, and making America a once again strong and independent nation, at the forefront of technology, innovation and industry.

                    August 4^th, Lansing Michigan

                    August 5^th, Youngstown, Ohio

[MB_722]

reinvest that in rebuilding America, and making America a once again strong and independent nation, at the forefront of technology, innovation and industry.

Is this really possible when the agenda has been to breakdown borders?

[Dos Equis]

He wants to roll back Bush' tax cuts for the wealthy, and reinvest that in rebuilding America, and making America a once again strong and independent nation, at the forefront of technology, innovation and industry.

                    August 4^th, Lansing Michigan

                    August 5^th, Youngstown, Ohio

= redistribution of wealth.  He also wants to dramatically raise the capital gains tax on millions of Americans. 

[Decker]

That about sums it up.  He wants to "roll back" the "Bush tax cuts" and use that supposed "savings" for his healthcare, etc. initiatives. 

He is bad news. 

Bush campaigned on the idea that his tax cuts would expire at the end of the decade.  That helped keep the cost down.  He flipflopped on that and McCain did as well.

The money for the Bush tax cuts should have been used to pay off the Soc. Sec. debt racked up during the Reagan borrow'nspend crazy days.

Instead, Bush just threw money at the economy in the form of an irresponsible tax cut.  Now Obama promises to fix that mistake b/c Bush's own borrow and spend policies will continue under McCain.  That would result in more debt with interest.

[Dos Equis]

Bush campaigned on the idea that his tax cuts would expire at the end of the decade.  That helped keep the cost down.  He flipflopped on that and McCain did as well.

The money for the Bush tax cuts should have been used to pay off the Soc. Sec. debt racked up during the Reagan borrow'nspend crazy days.

Instead, Bush just threw money at the economy in the form of an irresponsible tax cut.  Now Obama promises to fix that mistake b/c Bush's own borrow and spend policies will continue under McCain.  That would result in more debt with interest.

He plans to "fix" it by raising taxes and using that revenue to help fund a massive new government bureaucracy.  That has trouble written all over it. 

[240 is Back]

= redistribution of wealth.  He also wants to dramatically raise the capital gains tax on millions of Americans. 

But you're a fairly wealthy guy in property mgmt.  Most people aren't.  If you're poor, Obama will help you.  If you're rich, Obama will screw you.  That's about it.

[Straw Man]

He plans to "fix" it by raising taxes and using that revenue to help fund a massive new government bureaucracy.  That has trouble written all over it. 

It's better than massive borrowing and massive new government bureaucracy which is what Bush has done.

btw - I'm not caught up on all of Obama's platform of a massively larger govt.   

I'm not saying he's not going to do it but could you show me somewhere that he says this is his plan or is it just another silly right wing Conspiracy Theory?

[George Whorewell]

Getting the gap in between Condeleza Rice's front teeth fixed- 25%

Buying him and his friends real estate 75%

[240 is Back]

Getting the gap in between Condeleza Rice's front teeth fixed- 25%

Is that why sh'es practically endorsing him?

First she said she won't publicly admit who she's voting for, a slap in mccains' mouth.

now she admits America woudl be safe under Obama, taking away mccains only stronger selling point.

[Dos Equis]

Getting the gap in between Condeleza Rice's front teeth fixed- 25%

Buying him and his friends real estate 75%

lol.  That's just wrong.   

[Straw Man]

lol.  That's just wrong.   

not only wrong but not even funny

I'd probably be ok with funny and wrong

[youandme]

Getting the gap in between Condeleza Rice's front teeth fixed- 25%

Buying him and his friends real estate 75%

It's good,,,,,3 points

[shootfighter1]

If he increased taxes to pay down the deficit...that would make sense.  However, he will increase taxes to fund all his proposed increases to multiple social programs and create a larger, more powerful gov.  That is his history and passion.
I find much criticizm with the Bush administration and their blunders are part of the reason so many people are looking to a far left candidate like Barack.  If you take away his poise and presidential appearance, his substance is a higher taxes, higher spending, redistribution of wealth, bigger government, quasi-socialist candidate who will specifically hurt small businesses, business owners and investors.

[Deicide]

I'm not a a Politics "bug" so from time to time I have a question to which I'd appreciate a simplistic answer if possible...or at least dumb it down to state college graduate level please

Can someone give me a simple answer to the question of what Obama plans to spend the money on that the govt would receive from his proposed tax increase on the wealthy?

Thanks!

Why don't you care about politics Stella?

[Straw Man]

If he increased taxes to pay down the deficit...that would make sense.  However, he will increase taxes to fund all his proposed increases to multiple social programs and create a larger, more powerful gov.  That is his history and passion.
I find much criticizm with the Bush administration and their blunders are part of the reason so many people are looking to a far left candidate like Barack.  If you take away his poise and presidential appearance, his substance is a higher taxes, higher spending, redistribution of wealth, bigger government, quasi-socialist candidate who will specifically hurt small businesses, business owners and investors.

I'm not familiar with that "history"

Can you provide more details

[Butterbean]

Why don't you care about politics Stella?

I didn't say I didn't care.  I do care...but talking politics isn't something I do frequently so I like to get several people's opinions and wider information so I can make a little bit better of an informed choice.

  If you're poor, Obama will help you.  If you're rich, Obama will screw you.  That's about it.

= redistribution of wealth. 

I think this sums up what I've been hearing.


Thanks for everyone's input!

[Straw Man]

I didn't say I didn't care.  I do care...but talking politics isn't something I do frequently so I like to get several people's opinions and wider information so I can make a little bit better of an informed choice.
I think this sums up what I've been hearing.


Thanks for everyone's input!

But you're a fairly wealthy guy in property mgmt.  Most people aren't.  If you're poor, Obama will help you.  If you're rich, Obama will screw you.  That's about it.

= redistribution of wealth.  He also wants to dramatically raise the capital gains tax on millions of Americans. 

all of the above statements are simplistic at best

Any marginal increase in taxes (and that's all will be is marginal) on high income earners, capital gains, etc... would go to (hopefully) improve our nation as a whole and that is good for all people at all income levels

Also, I  would characterize the massive debt that Bush has incurred and the massive waste of our Tax Dollars and National Assets as the real Re-Distribution of Wealth

[24KT]

I didn't say I didn't care.  I do care...but talking politics isn't something I do frequently so I like to get several people's opinions and wider information so I can make a little bit better of an informed choice.
I think this sums up what I've been hearing.


Thanks for everyone's input!

STella, it might sum up what you've been hearing, ...but evidently what you've been hearing is a bunch of lies.

I recommend www.factcheck.org, a non-partisan organization that debunks the lies told both by and about the candidates.